WillScot Mobile Mini is Tuesday's IBD Stock Of The Day, as the commercial services and leasing leader moved above yet another buy point.
WillScot and Mobile Mini merged on July 1, 2020, forming a provider of flexible workspace and portable-storage solutions. The company operates across all sectors of the economy, from retail to governments, and has a network of roughly 240 branch locations and drop lots throughout the United States, Canada and Mexico.
Based in Phoenix, Ariz., WillScot Mobile Mini focuses on modular space solutions. The WillScot division has 160,000 units with over 2,850 employees. Mobile Mini's workforce of more than 2,250 people has 220,000 portable storage units.
Over the last three quarters, WillScot Mobile Mini has posted average earnings growth of 218%, including a 63% gain in Q3, to 39 cents per share. Sales growth has also accelerated in three of the last four quarters. Revenue rose 31% to over $604 million in Q3.
Institutional investors have taken notice. The number of funds with a position in WillScot Mobile Mini stock has risen from 619 in March 2022 to 778 in Q4 of this year, according to MarketSmith analysis.
Some of WillScot Mobile Mini stock's industry peers, though not necessarily rivals, include United Rentals, Herc, McGrath and Ryder System.
WillScot Mobile Mini Stock
WSC shares advanced 3.6% to 49.92 Tuesday during market trade in above-average volume. WillScot Mobile Mini stock moved slightly above a 49.12 buy point from a flat base.
The flat base formed just above a prior flat base, which set up just above a prior consolidation.
Since hitting a Jan. 5 bear-market low of 43.33, WillScot Mobile Mini stock gained 12%. WSC shares have also been on a strong run since hitting a low of 7.45 in early March 2020.
WillScot Mobile Mini stock has booked a gain of around 554% since then and has generally found support along its 10-week moving average. Since July 2020, when WillScot and Mobile Mini merged, shares have advanced 270%.
The storage solutions company is set to report fourth-quarter financials on Feb. 21. Wall Street estimates EPS growing 26% to 43 cents. Analysts predict revenue increasing 14% to $593 million.
Wall Street forecasts full-year earnings advancing 62% to $1.43 per share while sales are expected to increase 19% to $2.26 billion.
WSC shares rank seventh in the Commercial Services-Leasing industry group. Tesla stock has a 98 Composite Rating out of 99. The stock also has an 89 Relative Strength Rating, an exclusive IBD Stock Checkup gauge for share-price movement. The EPS rating is 75.
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